No, SECU Life policies do not require a waiting period before coverage is effective. Coverage begins after we receive a signed, approved application and the initial premium.
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No medical exams
SECU Life does not require a medical exam to obtain coverage.
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Trusted, unbiased guidance
Our insurance specialists provide the same member-focused service you've become accustomed to at SECU.
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Simplified process
Our simplified process means that, if approved, you can obtain coverage today.
Straightforward options to fit your needs
SECU Life offers two standard life insurance products: Term Life and Whole Life. Each product provides level coverage and level premiums.
Life insurance sample premiums
Table figures reflect monthly premiums for $100,000 of coverage.
| 10-Year Level Term1 | 20-Year Level Term1 | 30-Year Level Term1 | Whole Life2 | |
|---|---|---|---|---|
| Male age 25 | $8.25 | $9.33 | $11.58 | $80.75 |
| Male age 35 | $9.58 | $12.83 | $21.17 | $116.83 |
| Male age 45 | $18.50 | $31.33 | $57.50 | $174.67 |
| 10-Year Level Term1 | 20-Year Level Term1 | 30-Year Level Term1 | Whole Life2 | |
|---|---|---|---|---|
| Female age 25 | $6.33 | $7.17 | $8.75 | $68.58 |
| Female age 35 | $7.92 | $9.92 | $15.42 | $99.33 |
| Female age 45 | $13.58 | $22.92 | $37.17 | $145.25 |
Frequently asked questions about life insurance
Yes, all applicants must be North Carolina residents.
How much coverage you need depends on your individual circumstances. If you have a young family that depends on your income, a Term Life policy several times your salary to replace that income might meet your needs. If you are a stay-at-home parent, a Term Life policy to provide for childcare and other work you do may be appropriate. If you have no dependents or debt (and no plans to take on debt), then a smaller Whole Life policy to cover final expenses (funeral, medical bills, etc.) might be right for you. Your unique situation and comfort level may dictate a higher or lower level of coverage. Contact an insurance specialist at (855) 732-8467 to discuss which option(s) may be best for you.
Yes, you can make certain changes to your existing policy, including changing beneficiaries, updating payment information, and decreasing coverage. To increase coverage or change the type of coverage, you would need to reapply.
The premium stays the same during the level term (10, 15, 20, 25 or 30 years) of a Term Life policy and for the life of a Whole Life policy.
Yes, members will commonly purchase both a larger Term Life policy for temporary needs like income replacement and debt payoff plus a smaller Whole Life policy for their longer-term needs like final expenses.
Processing claims is our top priority, as there is nothing more important than helping grieving loved ones access policy benefits quickly and easily. To process a life insurance claim, we require a completed claim form, a copy of the death certificate, and a photo ID of the beneficiary. To obtain a claim form, call SECU Life at (855) 732-8467 or visit a local branch.
